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tell and describe about these. 1. Reviewing a current marketing strategy 1.1. Choose one product (or service) currently being marketed in South Korean market from
tell and describe about these. 1. Reviewing a current marketing strategy 1.1. Choose one product (or service) currently being marketed in South Korean market from any product category you are interested in. The pro luct of your choice should be made and marketed by a South Korean company. 1.2. Perform a market research about this current market and do the following. Define the current target market for this product and describe the characteristics of those target customers. Explain the company's current marketing mixes for this product's target market. Please describe this company's 4Ps (product, place, promotion, and price) in detail. Among potential target markets in various countries, please decide which country should be the best new target market for this product that is not currently being served by the firm. Please explain the reason why this product might appeal to this new target market. 2. Developing a new marketing strategy 2.1. Please perform a research for the new target market you have chosen in 1.2., by answering the following questions. How are the market environments of this country? How are they different from those of South Korea? Please describe the main characteristics of the target customers in this country. How are the new target customers different from the current target customers in South Korea? 2.2. Based on your analysis of the market environments and the target customers of this new market, please discuss how you will establish new 4Ps for your new target market. How are you going to modify current 4Ps discussed in 1.2. to satisfy this new target segment? Should they also modify product attributes? Would you maintain any of the current marketing mixes for the new target market? Why? 2.3. Summarize the results from 2.1. and 2.2. to establish a repositioning strategy by defining your new target market and new marketing mixes that would work best to appeal to those new target customers. Please make sure your suggested marketing strategy is logical and supported by enough evidences from your market research
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